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Fitch Ratings on Thursday raised India's GDP growth forecast for the current fiscal to 7.4 per cent, from 6.9 per cent, on increased consumer spending and improved sentiment boosted by GST reforms. It said falling inflation gives the Reserve Bank of India (RBI) room for one more policy rate cut in December to 5.25 per cent, following 100 bp of cuts in 2025 so far. Fitch said GDP growth accelerated further in the July-September quarter to 8.2 per cent, from 7.8 per cent in the April-June quarter. "Growth will ease over the remainder of the financial year 2025-26 (to end-March), but we have raised our full-year growth forecast to 7.4 per cent, from 6.9 per cent in September," Fitch said in its Global Economic Outlook report for December. Private consumer spending is the main driver of growth this year, supported by strong real income dynamics, increased consumer sentiment, and the impact of recently implemented goods and services tax (GST) reforms. Effective September 22, GST on abo
Prime Minister Narendra Modi will host a private dinner for Russian President Vladimir Putin on Thursday, hours after he lands in Delhi to expand overall bilateral strategic and economic partnership against the backdrop of frosty ties between India and the US. Boosting defence ties, insulating India-Russia trade from external pressure and exploring cooperation in small modular reactors are set to be the focus of the summit meeting between Modi and Putin on Friday that is expected to be closely watched by Western capitals. Following the 23rd India-Russia summit, the two sides are expected to seal several agreements, including in areas of trade. As the Russian leader is visiting India amid renewed American push to end the war in Ukraine, the issue is likely to figure prominently at the summit. The Russian president is likely to arrive in New Delhi at around 4:30 pm on Thursday, and hours later, Modi will host him for a private dinner in reciprocation of a similar gesture extended to